Class Actions

Our firm is widely experienced in representing both claimants and defendants in various class actions, concerning the capital markets and controlling entities of publicly held companies, client-bank relationship as well as consumer rights procedures. Our experience has grown with the growth of this field, as it evolved in the recent years, and we have become a prominent household name in the class actions arena.

 

Our clients include some of the largest corporations in the Israeli market, including commercial entities, governmental authorities, and financial entities. We provide legal counsel through the various stages of the class actions, including throughout the initial and highly significant stage of recognizing or disqualifying, as the case may be, such claim by court as qualified for class action.
 

Highlights:

  • RMB represents IDB Development Corporation Ltd. (a subsidiary of IDB Holding Corporation Ltd. one of Israel's largest holding concerns), within a successful dismissal of a NIS 260 million Class Action brought against it by its former shareholders regarding its 2009 Full Self-Tender Offer.
    The plaintiff's' appeal on this dismissal to the Supreme Court, was recently, unanimously dismissed in a precedential decision. The Supreme Court held that the Full Tender Offer Price genuinely reflected the Company's shares “Fair-Value” and stated that this was proven due to the outstanding cross examinations conducted by RMB as well as the experts' financial opinions brought on behalf of IDB.
  • RMB represents Harel Insurance Investments & Financial Services Ltd, one of Israel’s largest insurance and financial groups, in a NIS 270 million Class Action, filed against its subsidiary, Harel Insurance Company Ltd., on the grounds of an alleged misleading of its policyholders regarding travel insurance fees' charges.
  • RMB represents Pharma Guri Ltd., in a consumer Class Action filed against it, on the grounds of Pharma Guri alleged misleading of consumers by marketing and distributing "Rescue Remedy" products (produced from Bach flower essences) as medical substances with curative properties thus breaching the Public Health Regulations (Food) (nutritional supplements).
  • RMB represents Shlomo Transportation (2007) Ltd., a Shlomo SIXT subsidiary car rental company, in a Class Action, in a total amount of more than NIS 1 Million brought against it (and against other car rental companies), arguing for illegally overcharging customers with excessive fines for returning cars without a full tank of fuel thus violating consumer protection statutes.
  • RMB represents Israel Railways Ltd. (the Israeli National Railway Carrier), in multiple legal proceedings on various subjects, including in Class Actions filed against it. (Read More):
    (1) A Class Action in a total amount of over NIS 50 million due to an alleged breach of the relevant statutory provisions granting compensation for passengers who purchased a reserved seat in the event of a train delay.
    (2) A Class Action, in the amount of NIS 2,830,240, brought against it by a class of passengers claiming for compensation for periodical pass holders in the event of train cessations, including, general strikes. The case was concluded in a settlement, according to which, no compensation was paid to the class.
    (3) A Certified Class Action, in the amount of NIS 87,500,000, with respect to alleged violations of the Equal Rights for Persons with Disabilities Law, 1998, relating to passengers with a wheelchair confinement. RMB recently managed to settle this dispute and no out of pocket compensation was paid to the Class.
    (4) A Class Action, with respect to an alleged violation of the Railway Regulations (Travel Fee), 2004, while the supervisors at the train stations overcharged the regulated Travel Fee.
    (5) A Class Action, in the amount of NIS 35,692,272, with respect to an alleged 4-day impediment of the periodical pass purchased by the passengers, stemming from maintenance works carried out in the Haifa-Tel Aviv railway line, during July 2013. The claim was dismissed.